Three Strategies to Accelerate Business Recovery AND Hedge Another Market Decline (Summary from a previous Blog)
1. Access international markets or attract interest in YOUR U.S. based manufacturing facility.
2. Add an internal New Product Development & Creative Concept program and process. (Detail in my next post!)
3. Re-Mix your business plan to include Less Cyclical markets.
Manufacturers suffer most during a recession because they mostly sell into highly cyclical markets! So, what to do?...
Migrate to customers from Less Cyclical markets! (see previous blog below for more detail) ............ See this chart for Examples.
Products to Services...
If you are a contract manufacturer and you provide engineering or design recommendations to your end-product-customer today, consider promoting this attribute as a separate paid offering! You will expand your market opportunities AND become involved earlier in your customer's buying cycle, while influencing the outcome!!!
Techniques for quickly entering new markets in my next post.
Contact me at directly for further clarification.
This topic was addressed at a recent Manufacturing Alliance of Philadelphia city-wide meeting. MAP asssists with the resolution of manufacturers challenges including, closing the skills gap that prevents companies from obtaining highly trained employees, through the first of its kind Job Ready Program.
Copyright (C) Dennis Paris 2011
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